Algoma Steel Correlations
| ASTL Stock | 9.62 0.13 1.37% |
The current 90-days correlation between Algoma Steel Group and Algoma Steel Group is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Algoma Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algoma Steel Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Algoma Steel Correlation With Market
Good diversification
The correlation between Algoma Steel Group and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Algoma Steel Group and DJI in the same portfolio, assuming nothing else is changed.
Algoma |
The ability to find closely correlated positions to Algoma Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Algoma Steel when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Algoma Steel - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Algoma Steel Group to buy it.
Moving together with Algoma Stock
| 0.74 | AG | First Majestic Silver | PairCorr |
| 0.82 | IE | Ivanhoe Energy | PairCorr |
| 0.84 | AMZN | Amazon CDR | PairCorr |
| 0.69 | GOOG | Alphabet CDR Earnings Call Tomorrow | PairCorr |
| 0.85 | MSFT | Microsoft Corp CDR | PairCorr |
| 0.89 | JPM | JPMorgan Chase | PairCorr |
| 0.83 | META | Meta Platforms CDR | PairCorr |
| 0.8 | XOM | EXXON MOBIL CDR | PairCorr |
| 0.88 | CHEV | CHEVRON CDR | PairCorr |
| 0.77 | CNQ | Canadian Natural Res | PairCorr |
Moving against Algoma Stock
| 0.84 | FDR | Flinders Resources Earnings Call This Week | PairCorr |
| 0.81 | BRK | Berkshire Hathaway CDR | PairCorr |
| 0.44 | INFM | Infinico Metals Corp | PairCorr |
Related Correlations Analysis
| 0.5 | -0.35 | -0.22 | 0.74 | 0.21 | ASTL | ||
| 0.5 | -0.18 | 0.07 | 0.18 | 0.51 | CIA | ||
| -0.35 | -0.18 | 0.48 | 0.12 | -0.16 | LIF | ||
| -0.22 | 0.07 | 0.48 | -0.33 | -0.01 | TSL | ||
| 0.74 | 0.18 | 0.12 | -0.33 | 0.08 | ERO | ||
| 0.21 | 0.51 | -0.16 | -0.01 | 0.08 | WFG | ||
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Algoma Stock performing well and Algoma Steel Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Algoma Steel's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ASTL | 2.59 | 0.57 | 0.23 | 0.68 | 2.01 | 6.54 | 16.40 | |||
| CIA | 1.76 | 0.20 | 0.04 | 0.86 | 2.07 | 4.10 | 11.88 | |||
| LIF | 0.78 | (0.01) | 0.00 | 0.84 | 0.00 | 1.21 | 7.91 | |||
| TSL | 1.28 | 0.00 | (0.07) | 0.20 | 1.65 | 2.45 | 8.93 | |||
| ERO | 2.31 | 0.46 | 0.13 | 4.98 | 2.30 | 6.38 | 20.43 | |||
| WFG | 1.19 | (0.02) | (0.10) | (0.04) | 1.30 | 2.57 | 7.66 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Algoma Steel without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Algoma Steel Corporate Management
Elected by the shareholders, the Algoma Steel's board of directors comprises two types of representatives: Algoma Steel inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Algoma. The board's role is to monitor Algoma Steel's management team and ensure that shareholders' interests are well served. Algoma Steel's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Algoma Steel's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Michael Garcia | CEO Director | Profile | |
| Rory Brandow | Vice Sales | Profile | |
| Mike Panzeri | Senior Production | Profile | |
| Loris Molino | VP Services | Profile | |
| Piper Frech | Interim Officer | Profile | |
| Brenda Stenta | Manager Branding | Profile | |
| Michael Panzeri | Senior Production | Profile |